Victory Capital Management Inc. Lowers Stock Holdings in Darling Ingredients Inc. (NYSE:DAR)

Victory Capital Management Inc. trimmed its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 13.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 94,696 shares of the company’s stock after selling 15,203 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Darling Ingredients worth $3,480,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its position in shares of Darling Ingredients by 350.5% during the second quarter. National Bank of Canada FI now owns 44,421 shares of the company’s stock valued at $1,596,000 after acquiring an additional 34,560 shares in the last quarter. Versor Investments LP bought a new stake in shares of Darling Ingredients during the second quarter valued at approximately $334,000. Van ECK Associates Corp increased its position in shares of Darling Ingredients by 1.0% during the second quarter. Van ECK Associates Corp now owns 442,844 shares of the company’s stock valued at $16,275,000 after acquiring an additional 4,526 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Darling Ingredients in the 2nd quarter worth approximately $2,646,000. Finally, iA Global Asset Management Inc. grew its position in Darling Ingredients by 8.1% in the 2nd quarter. iA Global Asset Management Inc. now owns 13,326 shares of the company’s stock worth $490,000 after purchasing an additional 997 shares during the period. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on DAR. Jefferies Financial Group cut their target price on shares of Darling Ingredients from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, July 26th. TD Cowen cut their target price on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Friday. Citigroup raised shares of Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, June 12th. Scotiabank cut their price objective on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Stifel Nicolaus cut their price objective on shares of Darling Ingredients from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, May 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.10.

Insider Activity at Darling Ingredients

In other news, EVP Robert W. Day bought 2,532 shares of the stock in a transaction on Wednesday, July 31st. The stock was bought at an average cost of $39.37 per share, for a total transaction of $99,684.84. Following the completion of the purchase, the executive vice president now directly owns 12,607 shares in the company, valued at $496,337.59. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.62% of the stock is currently owned by corporate insiders.

Darling Ingredients Stock Performance

Shares of NYSE:DAR opened at $35.34 on Tuesday. The firm has a market cap of $5.65 billion, a PE ratio of 10.58 and a beta of 1.24. The firm’s 50 day simple moving average is $38.13 and its 200-day simple moving average is $40.54. Darling Ingredients Inc. has a one year low of $32.67 and a one year high of $58.27. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57.

Darling Ingredients (NYSE:DAR) last issued its earnings results on Thursday, July 25th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. Darling Ingredients had a net margin of 6.04% and a return on equity of 8.38%. The company’s quarterly revenue was down 17.2% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. As a group, equities analysts predict that Darling Ingredients Inc. will post 2.47 EPS for the current year.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.